Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.43%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.36%
baseline attrition
Rally response
-4.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $383M | 8.2% | +60.9% | 6.0 yr |
| AMZNAmazon.com, Inc. | $359M | 7.7% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $351M | 7.5% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $318M | 6.8% | -0.6% | 10.5 yr |
| VVisa Inc. | $187M | 4.0% | -13.1% | 10.5 yr |
| AAPLApple Inc. | $132M | 2.8% | +14.7% | 10.5 yr |
| COSTCostco Wholesale Corpora | $117M | 2.5% | +5.9% | 8.5 yr |
| TOTB.DETotalEnergies SE | $116M | 2.5% | +41.2% | 0.5 yr |
| METAMeta Platforms, Inc. | $114M | 2.4% | -0.4% | 10.5 yr |
| AVGOBroadcom Inc. | $99M | 2.1% | +86.0% | 6.8 yr |
| TSMTaiwan Semiconductor Man | $97M | 2.1% | +105.6% | 4.8 yr |
| LINLinde plc | $90M | 1.9% | +7.9% | 3.3 yr |
| SLBSLB N.V. | $89M | 1.9% | +26.7% | 7.5 yr |
| ABBVAbbVie Inc. | $88M | 1.9% | +7.3% | 8.5 yr |
| CTASCintas Corporation | $87M | 1.9% | -17.0% | 9.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.0%+4.2pp$655M
Internet Content & Information11.7%+1.4pp$550M
Specialty Retail9.4%-0.7pp$439M
Software - Infrastructure7.1%-1.1pp$334M
Drug Manufacturers - General5.2%-0.7pp$242M
Financial - Credit Services4.4%-1.4pp$208M
Medical - Devices4.1%+0.1pp$192M
Banks - Diversified3.1%-0.3pp$144M
Asset Management2.9%+0.3pp$136M
Consumer Electronics2.8%+1.2pp$132M
Country
US89.2%-4.8pp
FR2.5%
GB2.2%+1.3pp
TW2.1%+0.3pp
CA1.3%+0.8pp
IE1.3%-0.5pp
CH0.3%+0.2pp
KR0.3%
Top 5: 34.1% · Top 10: 46.4% · Top 25: 69.8%
Top buys this quarter · 15
| TOTB.DE TotalEnergies SE | +$42M |
| LIN Linde plc | +$36M |
| BSX Boston Scientific Corporation | +$31M |
| NOW ServiceNow, Inc. | +$20M |
| SHOP Shopify Inc.new | +$20M |
| CVNA Carvana Co.new | +$20M |
| RRC Range Resources Corporation | +$18M |
| V Visa Inc. | +$187M |
| AVGO Broadcom Inc. | +$13M |
| CPNG Coupang, Inc.new | +$13M |
Top sells this quarter · 15
| ESLT Elbit Systems Ltd.exit | −$30M |
| SPGI S&P Global Inc. | −$25M |
| AMZN Amazon.com, Inc. | −$23M |
| MSFT Microsoft Corporation | −$17M |
| EXAS Exact Sciences Corporationexit | −$15M |
| FCX Freeport-McMoRan Inc. | −$15M |
| CMG Chipotle Mexican Grill, Inc. | −$12M |
| AAPL Apple Inc. | −$11M |
| GOOG Alphabet Inc. | −$10M |
| NVDA NVIDIA Corporation | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.69B | 202 | +9.04% | +17.59% | -8.55% | +0.05B |
| 2025-12-31 | $5.01B | 194 | +11.29% | +17.72% | -6.42% | -0.07B |
| 2025-09-30 | $5.01B | 195 | +10.64% | +17.52% | -6.88% | +0.14B |
| 2025-06-30 | $4.68B | 197 | +8.94% | +14.94% | -6.00% | +0.00B |
| 2025-03-31 | $4.19B | 186 | +0.25% | +8.30% | -8.05% | -0.11B |
| 2024-12-31 | $4.56B | 166 | +15.13% | +24.89% | -9.75% | +0.29B |
| 2024-09-30 | $4.23B | 153 | +28.94% | +36.04% | -7.09% | +0.03B |
| 2024-06-30 | $4.09B | 153 | +20.94% | +24.49% | -3.55% | +0.16B |
| 2024-03-31 | $3.83B | 167 | +27.34% | +29.62% | -2.29% | +0.17B |
| 2023-12-31 | $3.38B | 271 | +28.88% | +26.18% | +2.71% | +0.13B |
| 2023-09-30 | $2.87B | 268 | +20.42% | +21.57% | -1.14% | +0.04B |
| 2023-06-30 | $2.95B | 267 | +19.47% | +19.42% | +0.04% | +0.35B |
| 2023-03-31 | $2.41B | 172 | -6.05% | -7.82% | +1.76% | +0.16B |
| 2022-12-31 | $2.05B | 162 | -18.40% | -18.17% | -0.22% | -0.10B |
| 2022-09-30 | $2.03B | 166 | -14.12% | -15.51% | +1.39% | -0.03B |
| 2022-06-30 | $2.16B | 158 | -9.46% | -10.62% | +1.16% | -0.05B |